United Kingdom GDP Annual Growth Rate  1956-2016 | Data | Chart | Calendar

The British economy expanded 2 percent year-on-year in the first three months of 2016, lower than a 2.1 percent initial estimate and a 2.1 percent rise in the previous period. It is the weakest growth rate in three years, due to a slowdown in household consumption, exports and a fall in business investment. GDP Annual Growth Rate in the United Kingdom averaged 2.47 percent from 1956 until 2016, reaching an all time high of 9.80 percent in the first quarter of 1973 and a record low of -5.90 percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

United Kingdom GDP Annual Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.10 9.80 -5.90 1956 - 2016 percent Quarterly
The United Kingdom is the sixth largest economy in the world and the second largest in Europe after Germany. The Services sector is the most important and accounts for 79 percent to total GDP. The biggest segments within Services are: government, education and health (19 percent of total GDP); real estate (12 percent); professional, scientific and technical activities and administrative and support services (12 percent); wholesale and retail trade (11 percent); and financial and insurance (8 percent). Industry accounts for 21 percent of the GDP and the largest segments within this sector are: manufacturing (10 percent of total GDP) and construction (6 percent). The Agriculture sector accounts for only 1 percent of GDP. This page provides the latest reported value for - United Kingdom GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-31 08:30 AM Q4 2.1% 2.2% 1.9% 1.9%
2016-04-27 08:30 AM Q1 2.1% 2.1% 2% 2.1%
2016-05-26 08:30 AM Q1 2% 2.1% 2.1% 2.1%
2016-06-30 08:30 AM Q1 2.1% 2% 2%
2016-07-27 08:30 AM Q2 2.0%
2016-08-26 08:30 AM Q2

UK Annual GDP Growth Revised Down to 2%


The British economy expanded 2 percent year-on-year in the first three months of 2016, lower than a 2.1 percent initial estimate and a 2.1 percent rise in the previous period. It is the weakest growth rate in three years, due to a slowdown in household consumption, exports and a fall in business investment.

Household spending went up 2.6 percent (2.7 percent in Q4 2015), government spending expanded 2.1 percent (2.2 percent in Q4 2015) and consumption of non-profit institutions serving households increased 2 percent (3.6 percent in Q4 2015).
 
Gross fixed capital formation grew 1.1 percent (2.1 percent in Q4 2015) and business investment shrank 0.4 percent, the first fall in three years.
 
In addition, both exports (2.1 percent from 2.2 percent) and imports (2 percent from 4.7 percent) went up at a slower pace.
 
On a quarterly basis, the economy advanced 0.4 percent, slowing from a 0.6 percent growth in the previous period and matching preliminary estimates.

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
5/26/2016 10:34:26 AM

United Kingdom GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.60 5.00 -2.70 percent [+]
GDP Annual Growth Rate 2.00 2.10 9.80 -5.90 percent [+]
GDP 2988.89 2712.30 2988.89 72.33 USD Billion [+]
GDP Constant Prices 453065.00 451260.00 453065.00 103840.00 GBP Million [+]
Gross National Product 456188.00 462672.00 462672.00 4726.00 GBP Million [+]
Gross Fixed Capital Formation 76948.00 76559.00 78763.00 13331.00 GBP Million [+]
GDP per capita 40967.70 40199.32 41567.28 13478.88 USD [+]
GDP per capita PPP 37613.54 36908.06 38164.02 26016.61 USD [+]
GDP From Agriculture 2943.00 2953.00 3009.00 2156.00 GBP Million [+]
GDP From Construction 24299.00 24333.00 25502.00 19510.00 GBP Million [+]
GDP From Manufacturing 38443.00 38624.00 41618.00 35763.00 GBP Million [+]
GDP From Mining 7583.00 7815.00 17696.00 6875.00 GBP Million [+]
GDP From Public Administration 18776.00 18788.00 21418.00 18052.00 GBP Million [+]
GDP From Services 323700.00 320602.00 323700.00 162406.00 GBP Million [+]
GDP From Transport 17622.00 17664.00 18468.00 10264.00 GBP Million [+]




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Macedonia 3.90 Dec/15
Honduras 3.60 Dec/15
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Serbia 3.50 Mar/16
Lesotho 3.40 Dec/15
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Spain 3.40 Mar/16
Suriname 3.40 Dec/14
Colombia 3.30 Dec/15
Costa Rica 3.30 Dec/15
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Iceland 3.20 Dec/15
Madagascar 3.20 Dec/14
Thailand 3.20 Mar/16
Czech Republic 3.10 Mar/16
Mongolia 3.10 Mar/16
Australia 3.00 Dec/15
Guyana 3.00 Dec/15
Luxembourg 3.00 Dec/15
Poland 3.00 Mar/16
Bulgaria 2.90 Mar/16
Georgia 2.90 Dec/15
Malawi 2.90 Dec/15
Maldives 2.90 Dec/15
Bahrain 2.80 Dec/15
Cyprus 2.70 Mar/16
South Korea 2.70 Mar/16
Sudan 2.70 Dec/14
El Salvador 2.60 Dec/15
Jordan 2.60 Dec/15
Mexico 2.60 Mar/16
Somalia 2.60 Dec/14
Sri Lanka 2.50 Dec/15
Swaziland 2.50 Dec/14
New Zealand 2.30 Dec/15
Lithuania 2.20 Mar/16
Albania 2.15 Dec/15
Afghanistan 2.10 Dec/15
Bosnia and Herzegovina 2.10 Dec/15
Chile 2.00 Mar/16
United Kingdom 2.00 Mar/16
United States 2.00 Mar/16
Armenia 1.90 Dec/16
Cayman Islands 1.90 Sep/15
Croatia 1.90 Dec/15
Latvia 1.80 Mar/16
Namibia 1.80 Dec/15
Singapore 1.80 Mar/16
Estonia 1.70 Mar/16
European Union 1.70 Mar/16
Haiti 1.70 Dec/15
Israel 1.70 Mar/16
Belgium 1.50 Mar/16
Euro Area 1.50 Mar/16
Jamaica 1.50 Sep/15
Montenegro 1.40 Dec/15
Netherlands 1.40 Mar/16
Austria 1.30 Mar/16
France 1.30 Mar/16
Germany 1.30 Mar/16
Bahamas 1.20 Dec/15
Paraguay 1.10 Dec/15
Finland 1.00 Mar/16
Italy 1.00 Mar/16
Lebanon 1.00 Dec/15
North Korea 1.00 Dec/14
Tunisia 1.00 Mar/16
Argentina 0.90 Dec/15
Hungary 0.90 Mar/16
Hong Kong 0.80 Mar/16
Portugal 0.80 Mar/16
Norway 0.70 Mar/16
Belize 0.60 Dec/15
Iran 0.60 Mar/15
South Africa 0.60 Dec/15
Canada 0.50 Dec/15
Denmark 0.50 Dec/15
Switzerland 0.40 Dec/15
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
New Caledonia 0.30 Dec/14
Barbados 0.20 Dec/14
Guinea 0.10 Dec/15
Ukraine 0.10 Mar/16
Japan 0.00 Mar/16
Uruguay -0.10 Dec/15
Kazakhstan -0.20 Mar/16
Nigeria -0.40 Mar/16
Brunei -0.50 Dec/15
Taiwan -0.68 Mar/16
Liechtenstein -0.80 Dec/14
Ecuador -0.90 Dec/15
Puerto Rico -0.90 Dec/14
Greece -1.20 Mar/16
Russia -1.20 Mar/16
Kuwait -1.60 Dec/14
Botswana -1.90 Dec/15
Trinidad and Tobago -2.00 Sep/15
Equatorial Guinea -2.10 Dec/14
Iraq -2.10 Dec/14
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Azerbaijan -3.50 Mar/16
Belarus -3.60 Mar/16
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Brazil -5.90 Dec/15
Libya -6.00 Dec/15
Venezuela -7.10 Sep/15
Macau -14.40 Dec/15
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Yemen -28.10 Dec/15